In 2020, world added 3 billionaires every 2 days; India added one every week

The world added 607 new billionaires or greater than three billionaires in two day, whereas India added 55 new billionaires or greater than three billionaires every two days in 2020, regardless of the COVID-19 pandemic, as per the tenth Edition of Hurun Global Rich List 2021 launched on Tuesday.

Also learn: Indian billionaires increased their wealth by 35% during the lockdown, says Oxfam report

Tesla’s Elon Musk added $151 billion to turn into the richest man within the world for the primary time with web value of $197 billion, adopted by Amazon’s Jeff Bezos with $189 billion in web value, the Chairman and CEO of LVMH Moët Hennessy – Louis Vuitton Bernard Arnault ($114 billion), Microsoft’s Bill Gates ($110 billion) and Facebook’s Mark Zuckerberg ($101 billion).

Reliance Industries Chairman Mukesh Ambani, who emerged because the richest man in India with web value of $83 billion, got here in at quantity eight within the international wealthy record 2021.

(*2*) Hurun Report chairman and chief researcher Rupert Hoogewerf mentioned.

The whole variety of billionaires globally elevated to a report 3,288 in 2020, a rise of 421 billionaires in the course of the 12 months. “Despite the COVID-19 pandemic, the total wealth of all billionaires across the globe surged 32% during the period under review to $14.7 trillion,” the Hurun Report mentioned.

India retained the third spot in variety of billionaires from a rustic with a complete of 177 billionaires residing within the nation. “China has pulled away big time from the U.S.A. in the past year, adding 259 to 1,058 to become the first country in the world to top 1,000 ‘known’ dollar billionaires. The U.S.A. is second with 696 billionaires, up 70. Between the ‘Big Two’, China and the USA have 54% of the ‘known’ billionaires on the planet. India added 40 to solidify its third place, followed by Germany, the U.K., and Switzerland, each with more than 100 ‘known’ billionaires.” it added.

In the record of Indian billionaires, Mr Ambani was adopted by Adani Group’s Gautam Adani & household along with his wealth practically doubling to $32 billion, HCL’s Shiv Nadar & household with web value of $27 billion, ArcelorMittal’s Lakshmi Mittal ($19 billion), Serum Institutes Cyrus Poonawalla ($18.5 billion), Hinduja Group’s Hinduja Brothers ($18 billion), Kotak Mahindra Bank’s Uday Kotak ($15 billion), Avenue Supermarts’ Radhakishan Damani & household ($14.5 billion), Zscaler’s Jay Chaudhry ($13 billion) and Sun Pharmaceutical’s Dilip Shanghvi and household ($12.5 billion).

Notably, scandal hit B.R. Shetty misplaced his billionaire standing for the primary time, as did OYO’s Ritesh Aggarwal following the impression of COVID-19, Future Retail’s Kishore Biyani and Rajesh Mehta of Rajesh Exports.

“Indian wealth creation is dominated by cyclical/traditional industries compared to tech driven wealth creation in the U.S.A. and China. When the tech driven wealth creation reached full potential, India could potentially beat the U.S.A. in terms of the number of billionaires,” Anas Rahman Junaid, MD and Chief Researcher, Hurun India, mentioned.

The report additionally famous that Mumbai is residence to the very best variety of billionaires in India with 60 billionaires, adopted by New Delhi (40) and Bengaluru (22).

The Hurun Global Rich List 2021 ranked 3228 billionaires from 2402 firms and 68 nations. Overall, whereas 2312 noticed their wealth improve, 635 noticed their wealth lower, there have been 194 drop-offs, 32 died and 282 noticed their wealth keep the identical, it mentioned.

Mr Hoogewerf added, (*3*)

It added that first era immigrant billionaires are on the rise, accounting for 14% of the record, up from 11% final 12 months. The nations with probably the most first-generation immigrant billionaires are the U.S., U.K., Switzerland, Singapore and Russia.

“Billionaires are not keeping up with philanthropy, making money much faster than they are giving it away,” Mr Hoogewerf mentioned.